Setup
Introduction In Swan, we have two types of setup options; Quick and Core setup. By selecting quick setup, Swan will automatically select and configure a default business environment for you. This will enable you to get up and running quickly. You can still make adjustments to any part of the system along the way. Note: If you have skip the Quick setup option and performed manual setup in Swan, there will be a notification indicates that you have already run auto setup or created an opening balance data under this setup option. While Core setup modules allow you to configure the main modules required to run Swan and manage your accounts with the type of business that you are running. To view these two setup processes, you may click at 'Quick Setup' button to view stages of their paths and steps. Company Details Setup Company Information Data from the setup company information will appear in the company official documentation such as invoices, receipts and credit or debit note. Click Update Company Info at your setup wizard or go to Setup >> Company Information Key in your company name, registration number and the company GST number (if applicable). Enter the company contact details such as registered contact name and company full address. The Registration No. Label field represents how your Company Registration Number is identified. This label will be appeared in documents such as invoices. Eg: Your Company is identified by the Business Registration number, therefore set Registration No. Label to Business Registration. Company Logo You may also add your company logo. The logo will appear in the company official documentation such as invoices, receipts and credit or debit note. To add logo, you may go to Setup >> Company Logo The logo will appear in the company official documentation such as invoices, receipts and credit or debit note. 'Contacts' A contact is essentially the address book of your suppliers and clients. Opening your Contact List To view the contact list, move your mouse over Setup >> Contacts >> Click on ' Contacts List' to view your contact list. How to create a new contact Move your mouse over Setup >> Contacts >> Click on Create New Contacts or you may go to contact list and click ‘New Contact’ button. Fill up the required information as shown below: 'Inventory' An inventory is a list of your stock items. Opening your Item List Move your mouse over Setup >> Inventory >> Manage Items to view your item/stock list How to create a new item *Once you have setup your inventory list you will need to link these items with its financial accounts and tax codes in order for the system to be able to calculate your GST entries. Add Quantity Batch # Quantity batch function is useful to record company previous stock on hand before using the system. The stock value must match the inventory account values on opening balance. This function applicable for items with no pending payment or partial payment. Items with incomplete transactions processes should undergo purchase/sales process flow with backdated invoices. # It can also be used to add ad-hoc batches without a purchase flow. In this scenario, users will need to perform journal entries to reflect value of these items in inventory asset accounts. # Go to Setup >> Inventory >> Add Qty Batch # Select item brand and category, if applicable. # Select stock group/sub category, if applicable. # Users also able to select department where the stock will be assigned to. Once a department has been chosen, the amount of the stock added will only reflected at the account of users within that department. # Enter batch purchase date # Key in the Qty Purchase – the quantity purchased for this batch (include stock on hand and stock that had been sold). # Key in the Qty Remaining – the quantity of existing stock on hand as at current date # Enter the purchase price. # Click on Create Quantity Batch button on top left of the table Adjust Item Quantity This feature is used to reduce your inventory/stock levels which do not directly attribute to a sale; such as: * Breakage - stock that you have damaged and cannot sell * Wastage - stock that is out of date, or needs to be thrown away * Write-offs - stock loss due to other reasons such as theft * Consumption of own stock - stock that you use or consume in the course of your business Adjustments will not be automatically passed into your accounts. Please ensure that the asset account of these items are updated accordingly to reflect its actual value To adjust your stock quantity, go to Setup >> Inventory >> Adjust Item Quantity * Select brand, category or stock group to narrow down your search * Enter the effective date * Enter the reduced quantity and its remarks * Click the "Adjust Stock Levels" Your stock will be reduced accordingly and you can view this adjustment in physical stock movement report Fixed asset list In this section, you will be able to oversees all the company fixed asset and its information, such as date purchases, quantity, purchase price and year-to-date period The system provides a function which allows you to calculate item's yearly depreciation rate; by entering the depreciation percentage rate per year and click 'Calculate' button The system will show the value after depreciation and year-to-date total depreciation of the asset Only the items which were tagged as 'Fixed Asset' will appear in the list. * To create a company fixed asset, you will have to create a new item and elect only Asset Account and link it to account type of Fixed Asset * Do not select any account for other linked accounts and skip the quantity and price tab * Choose the appropriate input tax and output tax If your fixed calculation differ from the system, Swan provides other calculation option that you can apply. * Select the specific fixed asset that you would like to calculate differently * Click the calculator icon * Purchase price and current life (value) will auto-calculate by the system * Enter the salvage value * Select the calculation method The system will not auto-post fixed assets accumulated depreciation, you will require to manually post it via journal entry function 'Users Management' Tenant admin is able to manage users by limiting user’s accessibility to modules to ensure the company data security. As employees left or changed their roles within the company, their access to data or modules will also need to be changed or removed concurrently. Add Users # To setup new users, the tenant admin will need to set up a user ID and password for each user, and then assign roles to them which determined their accessible modules. Multiple roles can be assigned to a user depending on his or her job scope at the company. Setting up users enables the company to control access and for the purpose of tracking transaction record history. # Click Add New User button at Setup module # Key in the user information such as name, username and email. Username for each user within the same company code must be unique. # Select the corresponding role for the user based on your company organizational chart. # Check the Email password to user checkbox if you want to email user the default password. Change User’s Access # Tenant admin can change user’s access by changing their role in the system. # To change the role, go to Setup >> User List. # Select the edit icon of the employee that requires changes in role. # Select the new role and click Update button. # The new role will take effect after the user log out and log into the system. Remove User’s Access # Tenant admin can remove user’s access by deactivate the user. # To deactivate a user, go to Setup >> User List. # Click on the deactivate button for the employee. # Once it was confirmed, the user will be in a deactivate license section. Tenant admin will not be able to re-activate the user. # To re-activate the user, tenant admin will have to contact Service Provider’s support team. Managing User License # Tenant admin will be able to manage and oversee number of users available for the system. # Number of user available will decreased when number of users increased. # The system will not allow tenant admin to create new user when the number of available user license equal to 0 (zero). Tenant admin will have to contact service provider’s support team to request for more user licenses. # Deactivate user will not be consider as an active user, therefore, it will not use the user license available. Setting User’s Role # Tenant admin is able to manage each user’s sign-on details whilst assigning the job role and accessibility. # To set user’s role, go to Setup >> User List. # The following table explains in details each role that available in the system. The same information can be found on Setup tab menu, System Roles. Services A service is treated as similar to a stock item however no quantity tracking or batches are applied to a service. Currently services do not have its own grouping; however users are able to manually link any Tax Code directly at the service management interface. Add New Service # Click Add a Service at Setup >> Services >>Create New Service. # On Details tab, key in the service code, name and description. # Users need to associate or link the correspondence accounts to the service. # Select Expense Account – this corresponds to the expense incurred when purchasing this service. Selecting this account will inform the system that the company attains this service from other company. # Select Revenue Account – this is corresponds to the revenue gained when providing this service. Selecting this account will inform the system that the company offers this service to other companies. # Choose billing details; fixed rate or hourly rate. # On the Tax tab, select the taxes incurred when purchasing and selling the service. The taxes have been differentiated to tax expense and tax collected for tracking purposes. Accounting Setting Opening Balance # Account opening balances are the balances of your accounts as at the first day of your conversion month. # You can enter the following amounts as the opening balance of a bank account: #* The bank account balances that appears on your balance sheet or trial balance reports as at the day prior to your conversion date. #* Cashbook balance of the account as at the end of the day prior to your conversion date. You can calculate your cashbook balance by taking into account the transactions not yet cleared by your bank as at the conversion date and the balance that appears on your bank statement at that date. # Step by step of how to create an opening balance are explain in details in Company Setup titled Setup Accounts & Opening Balances. # Closing entries are Journals entries made at the end of an accounting cycle to set the balance of temporary accounts (i.e expense and revenue accounts) to zero and begin the next accounting period. Depending on your company’s practices, a fiscal period can be either a calendar year, bi-annually or quarterly. Import COA When you set up your company in Swan and before you start entering transactions, you can import your own chart of accounts. This is an alternative to the default chart of accounts Swan sets up for new companies. You might want to use a chart of accounts you export from another Swan companies, or a chart of accounts you create using Swan's template. * With UBS: Export your COA file and import it directly to SWAN without doing any changes. We are using a ranking algorithm to help you to map from your current system to SWAN system but please review the suggestion mapping before processing. * With other systems: Export your COA File, copy information from your export files to SWAN Template files and import it Note: ''' * Your current COA will be replaced by the imported COA. * You cannot import COA if you already created a transaction. '''New Fiscal Period Closing entries are journal entries made at the end of an accounting cycle to set the balance of temporary accounts (i.e. expense and revenue accounts) to zero and begin the next accounting period. Depending on your company's practices, usually a fiscal period can be either a calendar year, bi-annually or quarterly. In Swan, these values are transferred to the Retained Earnings accounts. = Stock Grouping Swan allows you to create multiple stock categories to create groups of items that have the same linked accounts and tax codes. Stock categories will make it easier for you to categorize your inventory and automatically link items in your inventory by assigning them to a pre-set stock category. How to create Stock Grouping How to assign items to a Stock Group Notes You may enter additional notes for your customer which will appear in the Tax Invoice. For example is Payment Instruction. To create Default Notes for Sales Transaction, move your mouse to Setup >> Accounting Setting >> click on Note Payment Terms To view payment terms details, you may go to Setup >> Accounting Settings >> Click on Payment Terms Invoice Number # Invoice numbers are automatically generated based on predefined prefix and transaction sequence. The default figures should suffice but may be adjusted to suit your business. # For each category that needs to be adjusted, change the column as desired. # The first column represents the Prefix. # The second column represents the transaction sequence number Update Currency # The system allows users to change base currency or create multiple currencies for business transactions.The default currency is RM (Ringgit Malaysia) with its exchange rate is set to 1.000. # To setup the company base currency, click Update Currency at setup wizard or go to Setup >> Accounting Settings >> Currencies. # Choose entry with the ‘Base Currency’ status equal to ‘True’. # Key in your company base currency and code. # To add other currency, click Add Currency button and key in the currency name and code. # The foreign exchange rate is 1.00 against the base currency. For example, USD1.00 (foreign currency) is equal to RM4.42 (base currency), therefore the exchanged rate will be 4.42. # The exchange rate can be changed periodically depending on current rate. The system allows users to amend the rate during transactions. # For payment, the exchanged rate refers to the account paid from to base currency. If the payment is made using local bank thus the exchange rate is 1.00. Conversion of the base currency to foreign currency will follow the rate in the issued Invoice. ''Important: The system wills not auto-update the currency exchange rate for users. This will need to be done manually during the transactions if the set value is different from the current exchange rate value. Service Provider is not responsible for any profit or loss incurred due to currency exchange set value differences.'' 'Other Setup' Project * The projects setting provides manager level users with the option to setup project and appoint approval manager for each project. * The system allows one approval manager per project. When an approval manager has to be change, prior tasks will still require the previous approval manager to authorize it. User can deactivate the project or tasks and create a new entry to appoint new approver. * Go to Setup >> click on Projects * To create new project, click on Create Entry button. Enter the project code, name and description. Click Add Project button once confirmed * Once the project is created, users may add new task related to the project. To create new task, click on Add Task ''button at the Task List. Enter task details; task code, name and description. The task can be set to be billed by employee by check the ''Is Billable box. Enter billing details, either it is an hourly rate or is a fixed rate. Click Save to add task. Select Tax Record ''where appropriate. '''Departments' The departments can represent departments or branches/outlets in the company. In this system, transactions can able to be tracked or filtered via departments. Therefore, it can be an indicator of the departments or branches’ performances. Go to Setup >> Company >> click on Departments To create new department, click on Create Entry button. Enter the department name and description. Click Add Department button once confirmed Linked Accounts Swan system is based on linked accounts concept. Linked accounts are accounts that are linked to a particular object in the system to automate financial transactions Linked accounts enable the system to auto generate journals and post entries in their correct financial accounts Linked accounts enable transactions throughout the system to be streamlined, consistent, precise and accurate Objects that have linked accounts: * Default Linked Accounts (e.g. AR/AP etc) * Contacts * Bank * Credit Cards * Items & Services * Tax Codes * Stock Groups * Specific automated processes (GST adjustments etc)